[iM@k]

As a single guy (perhaps self confirmed bachelor), I am considering selling two pieces of jewelry my grandmother gave to me.

The pieces were recently appraised and would would help me greatly in my saving plan.

Let me also say my grandmother is aware of the plans to sell them and supports it. The pieces don't have any sentimental value to either of us.

I'm just not sure where or how the best way to sell them would be.

Any help and/or advise on how to proceed would be appreciated.

[reader50]

If they look odd by today's standards, put them on ebay as suspected alien jewelry from outer space. You might just sell them for 10x appraised value.

[iM@k]

Originally Posted by reader50 

If they look odd by today's standards, put them on ebay as suspected alien jewelry from outer space. You might just sell them for 10x appraised value.

Wow.........just........wow.

Is your real name Dwight Shrute?

[olePigeon]

If you get a notarized appraisal, you could try either eBay or a real auction house that specializes in jewelry.

[-Q-]

Pawn Stars

[ThinkInsane]

A reputable pawn shop (yes, there is such a thing) or a jewelry store. If you already have the appraisal, try listing them on craigslist.

[downinflames68]

Jewelry is worth SHIT, used. Just trade it for a 6 pack and a few gallons of gas. Or smash it and sell the gems and gold seperate.

[Spheric Harlot]

Originally Posted by downinflames68 

Jewelry is worth SHIT, used. Just trade it for a 6 pack and a few gallons of gas. Or smash it and sell the gems and gold seperate.

I think he's talking about real jewelery here, not some Svarowski-crystal-blinged fashion accessory.

Also, he's already had it appraised, so he has a fairly good idea just how much shit it's actually worth.

[downinflames68]

Case in point, buy $1200 ring. Then try to sell for $500. Good ****ing luck.

[iM@k]

The three pieces are over 200 years old and combined have an an appraised value of over $3,000 US. In other words pawn shop is not what I'm looking for and I wanted to avoid eBay.


I'd forgotten about craigslist (probably 'cause I've never used them before), thank you ThinkInsane

[ThinkInsane]

Originally Posted by downinflames68 

Case in point, buy $1200 ring. Then try to sell for $500. Good ****ing luck.

Yeah, if you're buying jewelry from a chain store or department store, that's exactly what happens, because you are paying a huge mark-up for what more often than not isn't top quality. Gold and gems aren't like cars, they don't depreciate when you drive them out of the show room. If you can't recoup the value, it's because you got screwed when you bought it.

Originally Posted by iM@k 

The three pieces are over 200 years old and combined have an an appraised value of over $3,000 US. In other words pawn shop is not what I'm looking for and I wanted to avoid eBay.

I'd forgotten about craigslist (probably 'cause I've never used them before), thank you ThinkInsane

Don't knock pawn shops out of hand. Remember I said "reputable". There are plenty of sketchy pawn joints around, but it's a business that also has a retail component to it, and many employ qualified jewelers since it's often a large part of their business. They won't pay you retail, but what they give you is about the same as you would make from an auction after you pay the listing fees and commission. If you can't find a buyer for your appraised price through craigslist or other classifieds, I'd take it to an established local jeweler. They have no qualms about buying quality pieces, despite Rob's expert opinion that it's worthless after you it's "used".

[Oisín]

I don’t know if this concept exists in the US, but here we have ‘DIY auctions’ as well. Basically, you pay a small price to sell your stuff at an auction house, and then you do everything yourself, including being the auctioner. So there’s only a small listing fee, no commission. If you have a similar thing, you could try that.

Otherwise, I’d go to an antique shop or jeweler and hear what they’ll give you for them.

[Doc Juansinn]

Sadly, there is a considerable gulf between an item's appraised value and its wholesale value. It's not much different in the areas of musical instruments and automobiles either. You'll always realise a higher profit selling privately than selling or trading to a dealer.

However, selling privately leaves you open to robbery, injury, and/or death. Please see the following link. Craigslist murder in Washington is a cautionary tale for Internet users | Nation | NewJerseyNewsroom.com -- Your State. Your News. . You might decide that using the services of a professional may be worth receiving less for your items.

Stay safe. Good luck with your sale.

[ghporter]

As Dr. Wahnsinn points out, Rob is right. Unless you have an item that is extremely easily identified as a genuine piece from a well known maker, you're likely to realize pennies on the dollar for jewelry. "Everyday" jewelry, including most rings, is almost always easier to get more money out of as components-and then you'll only get a fraction of the real worth of either the metals or stones.

[mattyb]

Originally Posted by downinflames68 

Case in point, buy $1200 ring. Then try to sell for $500. Good ****ing luck.

Those De Beers guys are scum.

[Doofy]

Originally Posted by iM@k 

The three pieces are over 200 years old and combined have an an appraised value of over $3,000 US.

Sounds like auction-house territory to me, mainly due to the age. Seems like it's not jewellery, but antiques you're selling.

(Disclaimer: I've never sold jewellery, but have sold stuff like this.)

[downinflames68]

Originally Posted by ThinkInsane 

Yeah, if you're buying jewelry from a chain store or department store, that's exactly what happens, because you are paying a huge mark-up for what more often than not isn't top quality. Gold and gems aren't like cars, they don't depreciate when you drive them out of the show room. If you can't recoup the value, it's because you got screwed when you bought it.

Wrong. I've never gotten stuff from chain stores.... and everything I've purchased has papers. That said, there is still a huge difference between what the paper says it's worth, and what people are willing to pay for. Some people have issues buying used jewelry because they think it's like a bad omen, and they want fresh jewelry that hasn't been tainted with other people's lives. I don't know, I just know that used jewelry= worth shit.

[finboy]

Originally Posted by iM@k 

As a single guy (perhaps self confirmed bachelor), I am considering selling two pieces of jewelry my grandmother gave to me.

The pieces were recently appraised and would would help me greatly in my saving plan. .

I'm going to recommend against it. Don't you have some other family members who might want to preserve these pieces as heirlooms?

Money is money, family history cannot be purchased for any price.

Trust me, I've seen plenty of people regret selling heirloom pieces. So sad.

EDIT: I just saw how much money we're talking about here. You gotta be kidding me. Peanuts. Find a niece or cousin or someone who would cherish that stuff.

[Phileas]

Originally Posted by downinflames68 

I just know that used jewelry= worth shit.

What you know is that your used jewelry is worth shit. You have no idea about his.

Everyday stuff is hard to sell, but antiques are a different matter altogether.

[Doofy]

Originally Posted by Phileas 

What you know is that your used jewelry is worth shit. You have no idea about his.

Everyday stuff is hard to sell, but antiques are a different matter altogether.

QFT.
Allcaps

[turtle777]

Originally Posted by mattyb 

Those De Beers guys are scum.

Dude, it's not De Beer's fault that the jeweler will mark-up the items.

If you think you can get it cheaper by digging out of the earth your own diamond, cutting it and then making jewelry out of it, just go ahead.

-t

[Phileas]

The only place to buy diamonds is at auction. Go with somebody who knows what they are talking about and you can get stones for what they are actually worth, then have them set.

[ghporter]

Originally Posted by Phileas 

What you know is that your used jewelry is worth shit. You have no idea about his.

Everyday stuff is hard to sell, but antiques are a different matter altogether.

The vast majority of jewelry today is NOT antique. Most of it is crap, in fact, something you can verify by visiting any mall jewelry shop. REAL antique jewelry is rare enough that you might actually realize something close to 50% of the value of the materials, plus a little. This is highly variable, of course, and dependent on who appraises it and who wants to buy it.

Originally Posted by turtle777 

Dude, it's not De Beer's fault that the jeweler will mark-up the items.

If you think you can get it cheaper by digging out of the earth your own diamond, cutting it and then making jewelry out of it, just go ahead.

-t

DeBeers IS responsible for maintaining the global diamond market as a perpetually undersupplied market. It's how they keep diamond prices high. They could make a lot more money on volume, but they might not be able to maintain higher volumes consistently. Their control of the diamond market worldwide (whether directly or by influence) keeps the price in line with what they can reasonably provide, year after year. They ARE a syndicate, and their behavior is illegal in the US; I believe that certain figures in the DeBeers management are still subject to arrest if they visit here.

Originally Posted by Phileas 

The only place to buy diamonds is at auction. Go with somebody who knows what they are talking about and you can get stones for what they are actually worth, then have them set.

The first step is to find a diamond auction. It's a plus if you live near New York or Amsterdam. It's almost necessary to have a LARGE amount of handy cash too, as some auctions require a deposit from everyone in attendance. Others are invitation only and you'll never get into one unless you know someone who's in the business in a very big way.

Indeed, really good, high quality jewelry that has a history will pull more at sale than more commonplace jewelry. But the point is still that "jewelry" isn't an investment, it's a luxury. Hundreds of jewelry businesses went out of business in the past three years. Precious metals go up and down in value quite widely, but gemstones, especially precious gems, are pretty stable.

[turtle777]

Originally Posted by ghporter 

IS responsible for maintaining the global diamond market as a perpetually undersupplied market. It's how they keep diamond prices high. They could make a lot more money on volume, but they might not be able to maintain higher volumes consistently. Their control of the diamond market worldwide (whether directly or by influence) keeps the price in line with what they can reasonably provide, year after year. They ARE a syndicate, and their behavior is illegal in the US; I believe that certain figures in the DeBeers management are still subject to arrest if they visit here.

Huh?

In non-conspiracy circles, this is called supply & demand.

-t

[ghporter]

Originally Posted by turtle777 

Huh?

In non-conspiracy circles, this is called supply & demand.

-t

If there were sufficient other sources, then it would be a case of limited supply. But it's not because there aren't. DeBeers owns or controls most of the diamond sources, and uses its influence (legit and otherwise) to pressure other producers to fall in line. For example, there are diamond sources in both Australia and Canada that are not owned or outright controlled by DeBeers, but to avoid serious business problems (like access to markets) both countries' diamonds are priced in line with DeBeers' products. It works a lot like Apple's stated prices: undercut and you face serious repercussions.

[Shaddim]

Those are antiques, not "used jewelry". Take them to a reputable auction house that specializes in antiques.

[turtle777]

Originally Posted by ghporter 

If there were sufficient other sources, then it would be a case of limited supply. But it's not because there aren't. DeBeers owns or controls most of the diamond sources, and uses its influence (legit and otherwise) to pressure other producers to fall in line. For example, there are diamond sources in both Australia and Canada that are not owned or outright controlled by DeBeers, but to avoid serious business problems (like access to markets) both countries' diamonds are priced in line with DeBeers' products. It works a lot like Apple's stated prices: undercut and you face serious repercussions.

I don't see how this is NOT supply and demand.

Besides, it's just diamonds. Who cares. It's not like they are selling beer or burgers overpriced.

-t

[ghporter]

Originally Posted by turtle777 

I don't see how this is NOT supply and demand.

Besides, it's just diamonds. Who cares. It's not like they are selling beer or burgers overpriced.

-t

DeBeers' basic operation violates what we might call "fair business" laws in a number of countries. That makes it NOT supply and demand. And a lot of people care because fine jewelry isn't just bling, it's often art. No, it doesn't impact the price of beer, but it does impact the livelihoods of millions.